NOTE: On August 2016, additional $750 thousand was allocated to the SREC purchase program, increasing the total funding for the program to $3.75 million. The program also has been extended to June 2017. As of August 2016, DESEU has disbursed $1.87 million of funds and has received requests for another $1.34 million for systems under construction.
SREC purchase program is a joint incentive of Delaware Division of Energy and Climate (DNREC) and the state’s Sustainable Energy Utility (SEU). The program offers a standard onetime payment of $450 per kW for the first 20 years of SRECs created by the system. In addition to this program, two other SREC based programs- SREC procurement program and SREC spot market program exist in DE which the participations may to choose to participate in.
The program is open to all Delaware residents who wish to install solar PV systems less than or equal to 50 kW in size. The system must be physically located in the state of Delaware and the system must have a final interconnection date after August 4, 2014. Systems must be certified by the DE Public Service Commission (PSC) to create DE SRECs. Any systems that already have a long term contract for their SRECs, including enrolled in SREC procurement program are not eligible for this program.
Participants can apply for the SREC purchase program by completing application at www.GreenGrantDelaware.com. The application consists of two parts, one to be completed before construction and one after construction. The program has a total budget of $1.5 million for purchase of SREC, which are awarded on a first-come, first-serve basis. Applying for the first part of the program does not secure funding for the system. Funding is awarded only after the system is complete and have obtained a DE PSC certification number. Information on remaining funds for the program is available at the program website.